Time and Materials Contracts & Pricing Answer Book


Time and Materials Contracts & Pricing Answer Book

By Gregory A. Garrett
Publish Date
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Wolters Kluwer Legal & Regulatory U.S.
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Business professionals who manage contracts, in both the public and private business sectors, must be aware of the many types of contract pricing arrangements available in order to choose the best type for each situation. Over time, three general pricing arrangements categories have evolved: fixed-price, cost-reimbursement (CR), and time-and-materials (T&M).

Despite, the relatively common use of T&M contracts worldwide for the buying and selling of professional services (i.e. automotive repairs, plumbing services, legal services, accounting services, consulting services, etc.) the U.S. federal government has created numerous complex laws, policies, and regulations which govern the pre-award, award, and post-award actions of T&M contracts.

Best-selling and award-winning author and leading government contracting consultant – Gregory A. Garrett - has created this practical and comprehensive Time-and-Materials Contracts and Pricing Answer Book. If you plan to use or are using government T&M contracts, then this book is a must read!

Key features include:

. 100+ T&M Contracts and Pricing Questions and Answers

·         The most recent OMB Policy on T&M Contracts

·         The most recent GAO Reports on T&M Contracts

·         An excellent Introduction to the full-range of Government Contract types

·         A Glossary of Key Terms

·         References

ISBN: 9780808022862
Pages: 242
SKU: 10028479-0001




About Author

Table of Contents

Introduction to Government Contract Types or Pricing Arrangements

Summary of T&M Contracts & Pricing Questions

Chapter 1: Fundamentals of Time-and-Materials (T&M) Contracts and Pricing – Q&A

Chapter 2: Guidance Applicable to All T&M Contracts – Q&A

Chapter 3: Guidance Applicable Only to Commercial Services, T&M Contracts – Q&A

Chapter 4: Guidance Applicable Only to Non-Commercial Services, T&M Contracts – Q&A

Chapter 5: Most Frequently Asked Questions & Answer (Q&A), About T&M Contracts


- Summary of Requirements for Commercial vs. Non-Commercial T&M and Labor Hour Contracts

Office of Management and Budget (OMB) Memo, Subject: Improving Government Acquisition, July 29, 2009

- Government Accountability Office (GAO) Report – GAO-09-579 (June 2009) “Contract Management: Minimal Compliance with New Safeguards for Time-and-Materials Contracts for Commercial Services and Safeguards Have Not Been Applied to GSA Schedules Progarm”

- Government Accountability Office (GAO) Report – GAO 07-273 (June 2007) “Defense Contracting: Improved Insight and Controls Needed Over DOD’s Time-and-Materials Contracts.”

Glossary of Key Terms




Gregory A. Garrett is a respected international educator, best-selling author, acclaimed business consultant, expert witness, and practicing industry leader. He has successfully led more than $35 Billion of high-technology contracts and projects during the past 30+ years. He has taught, consulted, and led contract and project teams in more than 40 countries. He has served as a lecturer for The George Washington University Law School and the School of Business and Public Management. He is the President and CEO, of Garrett Consulting Services International.

At Artel LLC, Mr. Garrett served as the Senior Vice President Operations, responsible for the P&L of a $250 Million global Information Technology, Cyber Security, Telecommunications, and Satellite Communications firm. He led the capture of over $1.5 Billion in new contracts and the doubling of company profits.

At Navigant Consulting, Mr. Garrett served as the Managing Director, Public Sector, responsible for the P&L of over $100 Million and leading a large team of top Information Technology and Financial Management consultants in providing a wide range of professional services to: more than 20 U.S. Federal Government agencies, to over 50 Fortune 500 companies, and expert witness services to numerous major law firms.

At Acquisition Solutions Inc., Mr. Garrett served as the Chief Operating Officer, responsible for the P&L of a $50 Million professional services and consulting company which provided contract management, supply chain management, program management, cost estimating, and information technology services to over 30 U.S. Federal Government agencies.

At Lucent Technologies, Mr. Garrett served as Chief Compliance Officer, Vice President Business Development, Vice President, Program Management, North America, Wireless. He also served as Chairman, Lucent Technologies Project Management Leadership Council, representing more than 2,000 Lucent project managers globally, and Director, Global Program Management Office at the company headquarters supporting $20 Billion of Information Technology and Telecommunication projects worldwide.

At ESI International, Mr. Garrett served as Executive Director of Global Business for a $100 Million global consulting and training firm, where he led the sales, marketing, negotiation, and implementation of bid/proposal management, project management, commercial contracting, and government contract management training and consulting programs for numerous Fortune 100 multinational corporations, government agencies and small businesses worldwide, including: ABB, AT&T, BellSouth, Boeing, IBM, Inter-America Development Bank, Israel Aircraft Industries, Lucent Technologies, Motorola, NCR, NTT, Panama Canal Commission, SBC, United States Trade Development Agency, United Nations, and the United States Department of Defense.

Formerly, Mr. Garrett served as a highly decorated military officer for the United States Air Force, awarded more than 17 medals, badges, and citations. He completed his active duty career as the youngest Acquisition Action Officer, in the Colonel’s Group Headquarters USAF, the Pentagon. He was the youngest Division Chief and Professor of Contracting Management at the Air Force Institute of Technology where he taught advanced courses in contract administration and program management to more than 5,000 people from the Department of Defense and NASA. Previously, he was the youngest Procurement Contracting Officer for the USAF Aeronautical Systems Center, where he led more than 50 multi-million dollar negotiations and managed the contract administration of over $15 billion in contracts for major weapon systems. He served as a Program Manager at the Space Systems Center, where he managed a $300 million space communications project.

Mr. Garrett is a Certified Professional Supply Manager of the Institute for Supply Management. He is a Certified Project Management Professional of the Project Management Institute and has received the prestigious PMI Eric Jenett Project Management Excellence Award and the David Cleland Project Management Literature Award. He is a Certified Professional Contracts Manager, and a Fellow of the National Contract Management Association. He has received the NCMA National Achievement Award, NCMA National Educational Award, the NCMA Charles Delaney Literature Award, and the NCMA Blanche Witte Memorial Award for outstanding service to the contract management profession.

A prolific author, Mr. Garrett is the best-selling and award winning author of 22 published business books, which have sold millions of copies worldwide. He has also authored more than 100 published articles on bid/proposal management, supply chain management, contract management, cost estimating and contract pricing, project management, and leadership.

Mr. Garrett resides in Oakton, Virginia with his wife Carolyn. He is the proud father of three children - Christopher, Scott, and Jennifer.

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